Tag: homeowners

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW

This may seem counter intuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In reality, this just dramatically lessens the demand for their house (see chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each otherover the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive, as the seller likely believes that he or she will net more money if they don’t have to pay a real estate commission. With that being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

Research posted by the National Association of Realtors revealed that:

“The median selling price for all FSBO homes was $185,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $163,800. However, homes that were sold with the assistance of an agent had a median selling price of $245,000 – nearly $60,000 more for the typical home sale.”

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

With the right preparation, a new home can provide the fresh start and continual enjoyment you’ve been working toward.

By partnering with a SRES® like me during the sale of your house and your new home search, you’ll gain the help and expertise of a REALTOR® specialized in meeting the needs of home buyers and sellers 50 plus. I have both the education and real estate experience to serve as your trusted advisor through the unique financial and lifestyle transitions involved in relocating, buying or selling your family home.

My mission is to help seniors and their families navigate the maze of financial, legal, and emotional issues that can accompany the sale of a long-time home. How can I help you and your family? Let’s talk about your reasons for selling or buying and then explore all the options to be sure you find the very best housing solution.

A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.

It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest season for real estate. What is surprising, though, is that listing during the winter came in second!

“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.”

The study goes on to say that:

“Buyers [in the winter] often need to move, so they’re much less likely to make a lowball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”

Bottom Line

If you are debating listing your home for sale in 2017, keep in mind that the spring is when most other homeowners will decide to list their homes as well. Listing your home this “winter” will ensure that you have the best exposure to the serious buyers who are out looking now!

The most recent Pending Homes Sales Index from the National Association of Realtors revealed a slight bump in contracts with an increase of 1.6% in December. This news comes as existing home sales are also forecasted to be on pace for 5.54 million in 2017, a 1.7% increase over 2016, which was the best year for sales in a decade.

The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed.

So, what’s the problem?

Buyers are searching for existing homes, but supply is not keeping up with their demand!

Yun went on to explain,

“The main storyline in the early months of 2017 will be if supply can meaningfully increase to keep price growth at a moderate enough level for households to absorb higher borrowing cost. Sales will struggle to build on last year’s strong pace if inventory conditions don’t improve.” (emphasis added)

Bottom Line

Buyers are out in force right now! If you are considering selling your home this year, the early months of 2017 will be your best option. Let’s get together to discuss how you can capitalize on current market conditions.

People across the country are beginning to think about what their life will look like next year. It happens every fall; we ponder whether we should relocate to a different part of the country to find better year-round weather, or perhaps move across the state for better job opportunities. Homeowners in this situation must consider whether they should sell their house now or wait.

If you are one of these potential sellers, here are five important reasons to sell now instead of in the dead of winter.

1. Demand Is Strong

The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market (which is 4.5-months).

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market soon.

Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase, reaching historic levels in 2017. Last month’s new home sales numbers show that many buyers who have not been able to find their dream homes within the existing inventory have turned to new construction to fulfill their needs.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae announced that they anticipate an acceleration in home sales that will surpass 2007’s pace. As the market heats up, banks will be inundated with loan inquiries causing closing timelines to lengthen. Selling now will make the process quicker & simpler.

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.2% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

According to Freddie Mac’s latest report, you can also lock-in your 30-year housing expense with an interest rate around 3.57% right now. Interest rates are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

If you are debating listing your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes For Sale

The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage:

“With demand holding firm and homes selling even faster than a year ago, the notable increase in closings in recent months took a dent out of what was available for sale.

Realtors are acknowledging, with increasing frequency lately, that buyers continue to be frustrated by the tense competition and lack of affordable homes for sale in their market.”

The latest Existing Home Sales Report shows that there is currently a 4.6-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and 5.8% lower than June 2015.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

Anything less than a six-month supply is considered a “Seller’s Market”.

Bottom Line

Let’s get together and discuss the supply conditions in your neighborhood so that I can assist you in gaining access to the buyers who are ready, willing and able to buy now!

About Carol Juntunen: I'm a Realtor® with Baird & Warner in the Chicago northwest suburbs. My intention is to provide insights and information to empower you to make confident, informed real estate decisions, and guide you through the home buying, selling or renting process.
Ready to buy or sell? Call or text me today:
Cell: 224-523-2217
Website: www.caroljuntunen.com
Email: carol.juntunen@bairdwarner.com

As the temperature rises, buyers are coming out ready to purchase their dream homes. The summer is a great time to list your home for sale. Here are five reasons why:

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this summer.

Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae just announced that they anticipate an acceleration in home sales that will surpass 2007’s pace by late summer. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler.

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to increase by nearly a full percentage point in the next 12 months.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

How can I help you achieve your real estate goals?

About Carol Juntunen: I'm a Realtor® with Baird & Warner in the Chicago northwest suburbs. My intention is to provide insights and information to empower you to make confident, informed real estate choices and decisions, and guide you through the home buying, selling or renting process.
Ready to buy or sell? Call or text me today:
Cell: 224-523-2217
Website: www.caroljuntunen.com
Email: carol.juntunen@bairdwarner.com

That headline might be a little aggressive. However, as the data on the 2016 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

The May numbers are not in yet, but the April numbers were sensational. Jonathon Smoke, Chief Economist at realtor.com, explained:

“We had a triple crown of April home sales reports, so 2016 is in the pole position to earn best year of home sales in a decade.”

And Freddie Mac also expressed a tremendous optimism regarding home sales for the rest of the summer:

“Home sales typically rise in the spring and summer months, and we anticipate acceleration in home sales that will surpass 2007’s pace by late summer.”

The only challenge to the market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is less than a five-month supply of inventory. This represents a decrease in supply of 3.6% from the same time last year.

Bottom Line

With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Let’s get together to see whether that is the case in your neighborhood.

How can I help you achieve your real estate goals?

About Carol Juntunen: I'm a Realtor® with Baird & Warner in the Chicago northwest suburbs. My intention is to provide insights and information to empower you to make confident, informed real estate choices and decisions, and guide you through the home buying, selling or renting process.
Ready to buy or sell? Call or text me today:
Cell: 224-523-2217
Website: www.caroljuntunen.com
Email: carol.juntunen@bairdwarner.com

HGTV considers the following home-enhancements to be among top-tier choices for regaining the most pay-back. Though not exhaustive, this list includes some of the most popular home-improvements as well as some of the most enjoyable, once renovation is complete.

Improve curb appeal by landscaping and maintaining sidewalks

1. Modernized Kitchens

A state-of-the-art kitchen is a very coveted renovation for earning back most of the monetary investment. Even if you were to not gut the entire kitchen, there are certain upgrades that are zealously prized by potential buyers: granite counter-tops, hardwood or stone (not tile) floors, premium appliances, islands, and under-mount sinks.

RECOUP:

A kitchen remodel can return more than 100%.

2. New or Renewed Hardwood Flooring

Hardwood floors are a favorite with discriminating buyers. If your older home has original hardwood floors and they are in decent shape, you are in luck! Have them lightly sanded, stained and resealed-you would be amazed at how stunning they can appear, once again, at a fraction of the cost of new hardwood flooring. Wood floors in pristine condition add that ‘wow’ factor that can, if missing, be a deal-breaker for home-buyers.

RECOUP:

Hardwood floors can bring back 2-times their cost! Conservatively, hardwood floors will bring in 100-150% return on investment.

3. Additional Square Footage

For every 1,000 square feet of actual living space that are added onto a home, the sale price can be boosted by more than 30%, according to the National Association of Realtors. Whether it is a spacious attic bedroom or a dedicated entertainment space, the ROI is quite impressive.

RECOUP:

Attic bedrooms and family/entertainment rooms can recoup between 70% and 80%.

4. Optimized Curb Appeal

If people drive by your home and are not impressed with what their eyes immediately see, chances are they may never give the inside of your home a single opportunity to strut its stuff. Curb appeal is synonymous with ‘first impression’. Make your home’s curb appeal eye-catching enough that it actually makes a statement that conveys a warm sense of ‘welcome’! That message draws people in, both, physically and psychologically.

Add beautiful beds of flowers, potted plants and trees to your property, and have them positioned in strategic locations to transform your home’s exterior from ‘frumpy’ to ‘fabulous’. Group plants by height; and layer the groupings for visual appeal. Your grassy areas should be lush and thick, and investing in a good edger to keep your property looking exquisitely manicured will impress even the most-persnickety buyers.

Curb appeal is not limited to vegetation. Equally important is making sure your driveway and sidewalks are in good shape. If your concrete areas have seen better days, and if any cracks, bulging or separation is apparent, consider replacement or professional repair. If sidewalks and the driveway are in good shape and just need a facelift, staining or painting those areas with highly durable, concrete-specific products will do wonders to add a fresh, renewed look! Also, tasteful outside lighting “paints” your home at night, and retaining walls add color and texture to wide stretches of green and give any property a very fortified appearance. Curb appeal can make the difference between a home that sells quickly at top dollar and one that languishes for months.

RECOUP:

Clean and classy curb appeal can contribute a whopping 20% to the total property value of a home. If done right, the ROI with curb appeal can be double the initial, total expense.

5. New Windows

The energy efficiency of installing higher-end windows is an unarguable benefit. Replacement costs will be determined by the number of windows being replaced as well as the type. This is one home improvement that home-buyers place a high premium on.

RECOUP:

A return of investment of at least 79% is very realistic.

There are certain improvements that are definitely worth the investment when it comes to helping you attract more buyers, sell your home quicker, retrieve most or all of your investment, and optimize your home’s true market value. It is vital, however, not to over-improve out of your particular neighborhood, since in that case reclaiming your investment will likely not materialize. You don’t want to fall into the trap of pricing your home a wide margin above other homes in your area.

What you get back on your investment will depend on the value of your home, the value of homes in your immediate area, the housing market where you live, how soon you sell after making home-improvements, and the quality of each project involved.

About Carol Juntunen: I'm a Realtor® with Baird & Warner in the Chicago northwest suburbs. My intention is to provide insights and information to empower you to make confident, informed real estate choices and decisions, and guide you through the home buying, selling or renting process.
Ready to buy or sell? Call or text me today:
Cell: 224-523-2217
Website: www.caroljuntunen.com
Email: carol.juntunen@bairdwarner.com

Are you ready for sunny days and the fresh breeze of springtime? It’s time to open the windows, air out the house and get going on that spring cleaning!

Try these easy-to-mix home cleaning solutions, which can be alternatives to hazardous household products. Most of the products that you hide from your children and pets can be replaced with these mixtures. You probably already have the ingredients somewhere in your home.

All-Purpose Cleaner

Mix one-quarter cup vinegar with one gallon of hot water. Keep on hand in a spray bottle.

Bathroom Cleaner

Scrub area with baking soda and wet sponge. Rinse with all purpose cleaner.

Furniture Polish

Mix together one-half cup of lemon juice with one cup of mineral oil. Rub on wood furniture with a soft cloth.

Brass or Copper Polish

Mix one teaspoon salt, one tablespoon flour and enough vinegar to make a thick paste. Rub paste on surface and let dry completely. Rinse in warm, soapy water and buff with clean, soft cloth.

Pet Stain Cleaner

Mix together one-quarter cup of white vinegar and one-quarter cup of liquid soap. Rub into stain and then blot. Rinse with warm water.

Mix one-half cup of white vinegar with one-half gallon of warm water. No need to rinse.

No-Streak Class Cleaner

Mix together three tablespoons of vinegar and one quart of hot water. Keep on hand in a spray bottle to use on all windows, mirrors and glass.

Drain Cleaner

Pour one-quarter cup of baking soda down the drain; follow with one-half cup of vinegar. After “fizzing” stops, flush with boiling water.

Silver Polish

Put a sheet of aluminum foil in the bottom of the kitchen sink and fill with two or three inches of warm water. Add one tablespoon each of salt and baking soda. Place silver in water, touching foil. Soak for one hour. Rinse in soapy water. Buff with a soft dry cloth.

Ant Repellent

Place chili powder, talcum powder, or powdered chalk at points of entry.

Hope this was helpful! Now, how can I help you achieve your real estate goals?

About Carol Juntunen:
I’m a Realtor® with Baird & Warner in the Chicago NW suburbs.
My intention is to provide insights and information to empower you to make informed real estate choices and decisions, and guide you through the home buying, renting or selling process.
Contact me:
Cell: 224-523-2217
Website: www.caroljuntunen.com